I have 4 vehicles and 2 boats and a home insured with State Farm. If I switched the vehicles and saved $1400/year on them, I'd cut my rates by 70%. I seriously doubt I'm getting a 70% discount from another company on top of the discounts I get with State Farm....
And I have $300k in liability, $500 deduct on Collision.
There isnt any reason to "doubt">
You dont know because you have not got individual quotes on insurance from at least 3 other companies?
You are taking State Farms word that because they say they are giving you a "70%" discount as there is no cheaper company to buy insurance from and that is not true unless you can verify.
Chances are you can get homeowners cheaper elsewhere from another company, Car insurance cheaper from another company and boat insurance cheaper from another company without bundling them. Meaning three different companies.
We had extensive dealings including business insurance with State Farm in the past, I used to believe that discount garbage and that is what it turned out to be in our case = BS. Well over a decade ago I cut all ties to them and only kept the business insurance as it is a partnership and the rate is good.
As far as the cars and home, also now the boat and motorcycle I wouldn't touch State Farm as they can not compete in that area. I do not bundle anything, I switch companies on the fly any time of year, not just at renewal time. Just because I do not bundle doesnt mean sometimes I end up with two items at the best price form the same company.
Example is boat and motorcycle best price right now is progressive. Cars are now Costco insurance (precious was esurance) House just this year is Progressive, previous was Travelers.
Im quite sure in the last 15 years I never had the same homeowners insurance more then 3 or 4 years, car insurance most likely the same. Boat and Bike is the only company Progressive that always seems to be low and have had them a good number of years. At one point Geico was better but on the bike but no longer.
With the above said, it is impossible to compare rates across the USA, even across towns. But I can say without question that one does not know if they are getting a good price unless they check multiple sources every year.
BTW - $300,000 liability is not expensive it really should be $500,000 unless you have an umbrella policy. The cost difference is nothing.
Anyway,
the key is to have that same amount of liability for uninsured and under insured drivers. It's something most people are way under insured on because it is by far the most expensive insurance in most areas and when people get quotes that $300,000 in liability that you may have, most likely doesnt include the same $300,000 on uninsured and underinsured drivers unless you watch for it. Which makes it even more hard to compared quotes because the public is clueless (not you by any means)
$300,000 in personal liability is worthless if someone with no insurance hits you or some one with $50,000 in liability hits you.